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E-Cigarette Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

January 2023 | 110 pages | ID: E6B7FF8BFECEN
IMARC Group

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The global e-cigarette market size reached US$ 21.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 31.9 Billion by 2028, exhibiting a growth rate (CAGR) of 4.4% during 2023-2028.

E-cigarettes are battery-powered devices that are considered less toxic than traditional cigarettes. Also known as e-cigs, e-vaping devices, vape pens and electronic cigarettes, these cigarettes consist of three main components, namely, a heating coil, battery and an e-liquid cartridge. These components help in delivering dosages of vaporized nicotine or flavored solutions to the users. E-cigarettes are gaining popularity, especially among young adults and adolescents, due to the rising awareness about the harmful effects of traditional tobacco-based cigarettes. However, researchers are still assessing the impact of e-cigarettes on the human body, which is not yet known.

E-Cigarette Market Drivers:
The willingness of consumers to quit smoking tobacco products and their perception of e-cigarettes as a safer alternative to traditional cigarettes have led to the increased demand for these devices across the globe. In line with this, the manufacturers are introducing new-generation e-cigarettes which offer different strengths of nicotine and allow the users to refill the cartridge. Moreover, the leading manufacturers are acquiring or entering into partnerships with small and domestic vendors. For instance, Japan Tobacco International (JTI) acquired the UK-based e-cigarette brand E-Lites to develop new products and to commercialize its vaporizers worldwide. These players are also introducing an extensive range of flavors, such as tobacco, fruits and botanicals, in response to the evolving consumer preferences. Further, they are developing the designs of and technology used in e-cigarettes to improve their functioning.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global e-cigarette market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product, flavor, mode of operation and distribution channel.

Breakup by Product:

Modular E-Cigarette
Rechargeable E-Cigarette
Next-Generation E-Cigarette
Disposable E-Cigarette

Next-generation e-cigarettes currently represent the most popular product type in the market as they provide significant technology upgrades and extended battery life.

Breakup by Flavor:

Tobacco
Botanical
Fruit
Sweet
Beverage
Others

Amongst these, tobacco is the most preferred flavor among consumers since it offers a similar taste as that of conventional cigarettes.

Breakup by Mode of Operation:

Automatic E-Cigarette
Manual E-Cigarette

At present, automatic e-cigarettes dominate the market since these cigarettes have emerged as a user-friendly option for smokers and gives them the feel of an actual cigarette.

Breakup by Distribution Channel:

Speciality E-Cig Shops
Online
Supermarkets and Hypermarkets
Tobacconist
Others

Presently, e-cigarettes are majorly distributed through specialty e-cigarette shops as the majority of customers are individuals who have quit smoking. The staff of these shops plays a central role in providing customers with product information and many provide smoking cessation advice.

Breakup by Region:

Asia Pacific
Europe
North America
Middle East and Africa
Latin America

Region-wise, North America enjoys the leading position in the market, accounting for majority of the total global market.

Competitive Landscape:
The competitive landscape of the market is characterized by the presence of several manufacturers who compete in terms of price and quality. Some of the key players are:

Philip Morris International Inc.
Altria Group Inc.
British American Tobacco PLC
Japan Tobacco, Inc.
Imperial Tobacco Group
International Vapor Group
Nicotek LLC
NJOY Inc.
Reynolds American Inc.
ITC Limited
J WELL France

Key Questions Answered in This Report
1. What was the size of the global e-cigarette market in 2022?
2. What is the expected growth rate of the global e-cigarette market during 2023-2028?
3. What has been the impact of COVID-19 on the global e-cigarette market?
4. What are the key factors driving the global e-cigarette market?
5. What is the breakup of the global e-cigarette market based on the product?
6. What is the breakup of the global e-cigarette market based on the flavor?
7. What is the breakup of the global e-cigarette market based on the mode of operation?
8. What is the breakup of the global e-cigarette market based on the distribution channel?
9. What are the key regions in the global e-cigarette market?
10. Who are the key players/companies in the global e-cigarette market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL E-CIGARETTE MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Breakup by Product
5.5 Market Breakup by Flavor
5.6 Market Breakup by Mode of Operation
5.7 Market Breakup by Distribution Channel
5.8 Market Breakup by Region
5.9 Market Forecast

6 MARKET BREAKUP PRODUCT

6.1 Modular E-Cigarette
  6.1.1 Market Trends
  6.1.2 Market Forecast
6.2 Rechargeable E-Cigarette
  6.2.1 Market Trends
  6.2.2 Market Forecast
6.3 Next-Generation E-Cigarette
  6.3.1 Market Trends
  6.3.2 Market Forecast
6.4 Disposable E-Cigarette
  6.4.1 Market Trends
  6.4.2 Market Forecast

7 MARKET BREAKUP BY FLAVOR

7.1 Tobacco
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 Botanical
  7.2.1 Market Trends
  7.2.2 Market Forecast
7.3 Fruit
  7.3.1 Market Trends
  7.3.2 Market Forecast
7.4 Sweet
  7.4.1 Market Trends
  7.4.2 Market Forecast
7.5 Beverage
  7.5.1 Market Trends
  7.5.2 Market Forecast
7.6 Others
  7.6.1 Market Trends
  7.6.2 Market Forecast

8 MARKET BREAKUP BY MODE OF OPERATION

8.1 Automatic E-Cigarette
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Manual E-Cigarette
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY DISTRIBUTION CHANNEL

9.1 Speciality E-Cig Shops
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Online
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 Supermarkets and Hypermarkets
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Tobacconist
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Others
  9.5.1 Market Trends
  9.5.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 Asia Pacific
  10.1.1 Market Trends
  10.1.2 Market Forecast
10.2 Europe
  10.2.1 Market Trends
  10.2.2 Market Forecast
10.3 North America
  10.3.1 Market Trends
  10.3.2 Market Forecast
10.4 Middle East and Africa
  10.4.1 Market Trends
  10.4.2 Market Forecast
10.5 Latin America
  10.5.1 Market Trends
  10.5.2 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

14.1 Price Indicators
14.2 Price Structure
14.3 Margin Analysis

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Philip Morris International
  15.3.2 Altria Group Inc.
  15.3.3 British American Tobacco PLC
  15.3.4 Japan Tobacco, Inc.
  15.3.5 Imperial Tobacco Group
  15.3.6 International Vapor Group
  15.3.7 Nicotek Llc,
  15.3.8 Njoy Inc.
  15.3.9 Reynolds American Inc.
  15.3.10 ITC Limited
  15.3.11 J Well France

LIST OF TABLES

Table 1: Global: E-Cigarette Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: E-Cigarette Market Forecast: Breakup by Product (in Million US$), 2023-2028
Table 3: Global: E-Cigarette Market Forecast: Breakup by Flavor (in Million US$), 2023-2028
Table 4: Global: E-Cigarette Market Forecast: Breakup by Mode of Operation (in Million US$), 2023-2028
Table 5: Global: E-Cigarette Market Forecast: Breakup by Distribution Channel (in Million US$), 2023-2028
Table 6: Global: E-Cigarette Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: E-Cigarette Market Structure
Table 8: Global: E-Cigarette Market: Key Players

LIST OF FIGURES

Figure 1: Global: E-Cigarette Market: Major Drivers and Challenges
Figure 2: Global: E-Cigarette Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: E-Cigarette Market: Breakup by Product (in %), 2022
Figure 4: Global: E-Cigarette Market: Breakup by Flavor (in %), 2022
Figure 5: Global: E-Cigarette Market: Breakup by Mode of Operation (in %), 2022
Figure 6: Global: E-Cigarette Market: Breakup by Distribution Channel (in %), 2022
Figure 7: Global: E-Cigarette Market: Breakup by Region (in %), 2022
Figure 8: Global: E-Cigarette Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: E-Cigarette Industry: SWOT Analysis
Figure 10: Global: E-Cigarette Industry: Value Chain Analysis
Figure 11: Global: E-Cigarette Industry: Porter’s Five Forces Analysis
Figure 12: Global: E-Cigarette (Modular) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: E-Cigarette (Modular) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: E-Cigarette (Rechargeable) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: E-Cigarette (Rechargeable) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: E-Cigarette (Next-Generation) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: E-Cigarette (Next-Generation) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: E-Cigarette (Disposable) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: E-Cigarette (Disposable) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: E-Cigarette (Tobacco) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: E-Cigarette (Tobacco) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: E-Cigarette (Botanical) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: E-Cigarette (Botanical) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: E-Cigarette (Fruit) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: E-Cigarette (Fruit) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: E-Cigarette (Sweet) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: E-Cigarette (Sweet) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: E-Cigarette (Beverage) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: E-Cigarette (Beverage) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: Global: E-Cigarette (Other Flavors) Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: Global: E-Cigarette (Other Flavors) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Global: E-Cigarette (Automatic) Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Global: E-Cigarette (Automatic) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Global: E-Cigarette (Manual) Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Global: E-Cigarette (Manual) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Global: E-Cigarette Market: Sales through Speciality E-Cig Shops (in Million US$), 2017 & 2022
Figure 37: Global: E-Cigarette Market Forecast: Sales through Speciality E-Cig Shops (in Million US$), 2023-2028
Figure 38: Global: E-Cigarette Market: Online Sales (in Million US$), 2017 & 2022
Figure 39: Global: E-Cigarette Market Forecast: Online Sales (in Million US$), 2023-2028
Figure 40: Global: E-Cigarette Market: Sales through Supermarkets and Hypermarkets (in Million US$), 2017 & 2022
Figure 41: Global: E-Cigarette Market Forecast: Sales through Supermarkets and Hypermarkets (in Million US$), 2023-2028
Figure 42: Global: E-Cigarette Market: Sales through Tobacconist (in Million US$), 2017 & 2022
Figure 43: Global: E-Cigarette Market Forecast: Sales through Tobacconist (in Million US$), 2023-2028
Figure 44: Global: E-Cigarette Market: Sales through Other Distribution Channels (in Million US$), 2017 & 2022
Figure 45: Global: E-Cigarette Market Forecast: Sales through Other Distribution Channels (in Million US$), 2023-2028
Figure 46: Asia Pacific: E-Cigarette Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Asia Pacific: E-Cigarette Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Europe: E-Cigarette Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Europe: E-Cigarette Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: North America: E-Cigarette Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: North America: E-Cigarette Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Middle East and Africa: E-Cigarette Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Middle East and Africa: E-Cigarette Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Latin America: E-Cigarette Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Latin America: E-Cigarette Market Forecast: Sales Value (in Million US$), 2023-2028


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